Definitely NOT slum lord standards, but renovating the house to meet basic safety standards - to code.

Obviously I'm a little confused on some of the basics.

Basically what it needs is trim, new doors, interior patching and finishing items with moldings etc, and a little exterior work.My question, I have contacted a couple different banks to start the refi process.

You can basically flip that contract, but the State requires that their tax certificate be issued to whoever asked for the price quote. 

Basically, about 60 feet (depth) of the back yard was worthless.

Congratulations. not sure on the floors we have been using real bamboo  and in our other high end home it will be heart of pine.. not familiar with Houzzcabinets were ordered  counter tops were custom concrete though.. house is 4 stories and what makes it special is it will be the last one built that can be that tall in that area they changed the code right after we were permitted Charleston is challenging you need the height to get the sq ft in the house that house is still only 1700 sq ft.. you have to build up out of flood zone in that area so you cant go under and first level has to be parking so now you can only do two floors above garage.. and because the lots were created back when the US was created basically they are all tiny 20 to 30 feet wide 50 to 80 feet deep.. so it going to be interesting going forward.. basically going to be pretty tough to have anything over about 1500 sq ft.

@Anthony Dadlani  well when I did this.I would make sure my note payment was higher than my payment on the borrowed funds so I made the delta.its pretty basic you borrowed 25k against your 50k note your 50k note pays off 45k since it paid down principal hopefully your 25k you borrowed your payments are set up to pay down some of that principal  so lets say the pay off to your underlying is 22k.. they get 22k you get 23k.. everyone keeps the payments they got during the term ... for some reason you don't pay your 25k note buyer they can then foreclose and wipe you out.. or if it bids higher than their 25k at trustee sale or sherrifs sale depending on mortgage state or deed of trust state.. anything over whats owed on the 25k goes to you as next in line.

I’m not sure how plumbing venting works in these houses.Likely will also need new furnace and AC.Will need basic exterior remodel such as stucco over the existing brick .Finally it will need all the cosmetic stuff done like upgraded kitchen, bathrooms, floors etc.The house is 2900 sq ft but about 1000 Sq feet of that is the dining room and living room which needs very little done to it.Any rough ballparks on what I can expect this to cost with high end finishings?

Chris,If you need some help with legwork in Tampa (inspections, checking properties), basically putting eyes on something, let me know. 

BP is quite unique in that you can get basic answers to your questions..